Income elasticity of inferior goods
Negative income elasticities of demand entail those goods are: (1) luxuries. (2) necessities. (3) inferior. (4) substitutes. (5) expensive. Can anybody suggest me the proper explanation for given problem regarding Economics generally?
Negative income elasticities of demand entail those goods are: (1) luxuries. (2) necessities. (3) inferior. (4) substitutes. (5) expensive.
Can anybody suggest me the proper explanation for given problem regarding Economics generally?
The removal of exploitation of the labor wage payments beneath the value to society of each and every individual worker’s productive contribution is automatic when business decision makers: (i) Should set wages via collective bargaining agreements with the labor
When you paid a friend’s entrance fee for the poker tournament and agreed to divide any winnings and then your friend played sloppily as your money is at risk, not his, and then you have suffered since of: (1) Adverse selection. (2) Fraudulent information. (3) I
The information is illustrated below: (a) Determine the expected return on Stock X?
The supply of textile employees in China is possibly most like the perfectly price elastic supply curve within: (w) Panel A. (x) Panel B. (y) Panel C. (z) Panel D. Q : Relative price and income inelasticity Technological advances have raised agricultural productivity enormously among 1800 and nowadays, and therefore, the relative incomes of family farmers declined dramatically. There hardships endured through American farm families throughout this period
Technological advances have raised agricultural productivity enormously among 1800 and nowadays, and therefore, the relative incomes of family farmers declined dramatically. There hardships endured through American farm families throughout this period
Consumers confronting huge arrays of choices whenever they contemplate choosing one brand of toothpaste out of 50, or whether to purchase pulp-free, not-from-concentrate orange juice, calcium-fortified, or the extra-pulp, non-calcified, from-concentrate version, frequ
The capability of unskilled workers to compete against skilled workers for jobs tends to be decreased by: (1) progressive income taxes. (2) laws which impose excessive legal minimum wages. (3) speculation and arbitrage. (d) inflationary balance of trade deficits. (5)
Since philosophers are hardworking and intelligent individuals who should acquire substantial human capital and advanced degrees to work like philosophers, in that case the shaded area B represents: (1) pure profit. (2) consumer surplus. (3) interest
An income elasticity of demand for a good equivalent to two implies roughly that: (1) demand curves for the good slope upward. (2) the product is an inferior good. (3) each 1% gain in income boosts the amount sold through 2%. (4) a 20% gain in income
When a monopolist is maximizing its gain in the product market however consists of no monopsony power in labor market, and then it will: (1) Hire labor till marginal revenue product equivalents the average factor cost. (2) Pay a wage equivalent to the marginal revenue
18,76,764
1942599 Asked
3,689
Active Tutors
1416845
Questions Answered
Start Excelling in your courses, Ask an Expert and get answers for your homework and assignments!!